FYI: Sentiment on the part of individual investors in the weekly survey from AAII has been reflecting equity weakness throughout May and this week was once again no exception. Despite the rally over the past two sessions, declines Monday and at the end of last week have dragged bullish sentiment from 24.8% last week down to 22.53%. At this level, bullish sentiment remains at an extreme low by historical standards and is now at its lowest since December 13th of last year when it was at 20.9%. Similar parallels can be drawn with another sentiment survey conducted by Investors Intelligence. The Investors Intelligence survey saw a massive drop in bullish sentiment from 49% last week to 42.7% this week. That brings bullish sentiment in this survey to its lowest level since January 16th. Respondents who reported that they expect a correction also rose sharply by 5.1% to 38.8%. The last time respondents turned this negative was in the final weeks of December when it rose by the same amount to 39.3%.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/bearish-sentiment-still-on-the-rise
